Magenta Medical, a Kadima, Israel-based developer of heart failure solutions based on proprietary miniaturized blood pump technology, raised a financing round of undisclosed amount.
The round was led by New Enterprise Associates (NEA), with participation from existing investors Pitango Venture Capital, JVC Investment Partners and a group of private investors led by Prof. Jacques Seguin (CoreValve, ReCor).
The financing will be used to advance the development of the company’s two products and support Magenta Medical towards its first FDA approval.
Founded by Professor Ehud Schwammenthal and Yosi Tuval and led by Dr. David Israeli, CEO, Magenta Medical provides technology that aims to improve the outcomes of patients admitted with acute heart failure, whether they suffer from cardiogenic shock or from volume overload and systemic congestion.
The company has developed the Transcatheter Renal Venous Decongestion System that selectively reduces renal venous pressure in order to mechanically unload the kidneys, improve renal perfusion and function, and promote fluid and sodium removal.
The device has been tested in a human feasibility study and the company is working on a next-generation device.
Magenta Medical’s second product is intended to be used in patients undergoing high-risk coronary interventions and admitted patients with cardiogenic shock, a severe manifestation of acute heart failure where the failing left ventricle is unable to adequately deliver blood, oxygen and nutrients to vital organs. Its device, a percutaneous Left Ventricular Assist Device (pLVAD), is a miniaturized catheter-mounted arterial pump that moves blood from the left ventricle into the aorta, unloading the failing left ventricle for hours to days and serving as a bridge-to-recovery.